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7 Points in the Lifecycle Where you Must Engage Customers
Brought to you by:
Ernan Roman, President, ERDM Corp.Karen Morris, Marketing Manager
Our Speaker
Ernan Roman (@ernanroman) is president of ERDM Corp. and author of Voice of the Customer Marketing. He was inducted into the DMA Marketing Hall of Fame due to the results his Voice of Customer (VoC) research-based strategies achieve for companies such as IBM, MassMutual, Microsoft, QVC, and Gilt. ERDM conducts specialized VoC research to identify high impact Customer Experience strategies which generate significant increases in revenue. Named by the Online Marketing Institute as one of the Top 40 Digital Luminaries and by Crain’s BtoB Magazine as one of the 100 Most Influential People in Business Marketing. His widely read blog, Ernan's Insights on Marketing Best Practices appears in Huffington Post, CMO.com, Forbes, CustomerThink, CRMC and Business2Community. Previous books; Opt-in Marketing and Integrated Direct Marketing. [email protected], @ernanroman, www.erdm.com
• Software as a Service (SaaS)
• Focused on:
• Best-in-Class Data Analytics
• Known for Innovation
Customer
EngagementCustomer
Satisfaction
Program
Participation
In our
25thYear
Serving
Hundredsof Utilities
Achieving Extraordinary Client
Retention
Apogee Is…
Apogee Engages Utility Customers
Engaged Customers…a Valuable Asset
Digitally engaged customers are more satisfied, and more involved*
*Accenture, New Energy Consumer
*Accenture utility consumer survey
25% INCREASEin customer satisfaction
More than
3 TIMES AS LIKELYto recommend their provider
37% INCREASEIn signups for energy products and programs
7 Points in the Lifecycle
Where you Must Engage Customers!
5/17/18
ERNAN ROMAN President, ERDM Corp.
Author, Voice of the Customer Marketing
Inducted into the DMA Marketing Hall of Fame due to the results ERDM’s Voice of Customer (VoC) research-based CX strategies achieve for companies such as IBM, MassMutual, Microsoft, QVC and Gilt.
ERDM conducts specialized VoC research to help companies achieve deeper levels of customer engagement and generate significant increases in revenue.
Named by the Online Marketing Institute as one of the Top 40 Digital Luminaries and by Crain’s BtoB Magazine as one of the 100 Most Influential People in Business Marketing.
His widely read blog Ernan's Insights on Marketing Best Practices appears in Huffington Post, CMO.com, Forbes, CustomerThink, CRMC and Business2Community.
Previous books; Opt-in Marketing and Integrated Direct Marketing.
8
@ernanroman [email protected]
www.erdm.com
AGENDA
9
Learn how a major financial institution….
Used deep customer insights to reengineer their personas, CX and personalization strategies…and, increased response 5X.
Major VoC research findings…
1. Chasm between the CX fantasy of brands versus reality. 2. How Customers Define “Customer Experience”. 3. Customers identified 7 key points in their lifecycle where they expect high value engagement.
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In a recent Retail Info Systems study (10/17),
execs were asked, “Who does personalization
best?”?
FINDINGS FROM 16 ,000+ HOURS OF IN-DEPTH
VoC INTERVIEWS:
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© 2018 Adobe Systems Incorporated. All Rights Reserved. Adobe Confidential.
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Dangerous
chasm between
brands’ fantasies and
customers’ realities.
Reciprocityof Value:customers
willing to provide
preference data for better
CX.
Unprecedented
expectations.
Failure to deliver personalized
value.
Customers are people and want
personalized value.
BtoB, BtoC…PtoP!
# 1. VoC UNIVERSAL TRUTHS: CX and HX
“Simplistic purchase history-based emails don’t work. With today’s technology, I expect emails to reflect my individual interests and preferences.”
“True engagement forges strong ties with your company that serve as a ‘grace account’ upon which to draw when there is the inevitable problem or outreach from competition.”
“We are complex human beings with individual needs. It is insulting when we get ‘personalization’ which reduce us to cartoon characters. We are not simple cohorts!”
ERDM VoC RESEARCH;
PERSONALIZATION AND CX ARE FAIL ING
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# 2. VoC; How Customers Define “Customer Experience”*
Applies to all elements of the media mix and
all departments in your organization.
High value customer experiences across every point of
contact with your organization.
High quality experiences must be
maintained throughout the
relationship “not just when you are
selling me”.
*Definition is based on 16,000 + hours of CX VoC research conducted by
ERDM 14
# 2. VoC; How Customers Define “Customer Experience”*
Customer experiences must be driven by my individual
preferences regarding: needs, message, timing,
frequency and media prefs. and aversions.
*Definition is based on 16,000 + hours of CX VoC research conducted by
ERDM
Preference data must result in high quality personalization
of communications and experiences.
Privacy of preference information is essential.
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2O N B O A R D I N G
1P U R C H A S E
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VoC FINDING #3; 7 L IFECYCLE POINTS FOR
ENGAGEMENT
VoC INSIGHTS RE:
PURCHASE AND ONBOARDING
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O N B O A R D I N G
“Welcome me, make me feel appreciated. Then, make sure I understand what I need to know to get the greatest value from what I just purchased from you. Don’t just take my money and run!”
P U R C H A S E
“Start the relationship by learning about us as individuals. Be proactive in asking for appropriate data to improve our experience. And then, use that information to provide much smarter personalization and recommendations.”
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VoC FINDING #3; 7 L IFECYCLE POINTS FOR
ENGAGEMENT
3A N T I C I P A T O R Y
R E S P O N S E S T O
D E C R E A S I N G
E N G A G E M E N T
(Visits, responses, purchases)
4I M M E D I A T E
R E S P O N S E T O
N E G A T I V E
E X P E R I E N C E S
5S U R P R I S E A N D
D E L I G H T
T H A N K - Y O U ’ S
D E E P E N I N G
R E L A T I O N S H I P S ;
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VoC INS IGHTS RE: ANTIC IPATORY RESPONSES,
PROBLEM RESOLUTION AND “THANK YOU”;
A N T I C I P A T O R Y
“If we’re not buying, check in with us. Find out what’s happening, are we having problems? Don’t just view us as as cash register!”
P R O B L E M
R E S O L U T I O N
“When there’s a problem, that’s when we see what you’re about! Was it all talk or are you here for us and doing what it takes for our success?”
T H A N K - Y O U
“It doesn’t take much, a thank you card, a token gift. It’s about conveying that you are as loyal to us as we are to you!”
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VoC F INDING #3; 7 L IFECYCLE POINTS FOR
ENGAGEMENT
6V A L U E - A D D E D
C R O S S S E L L I N G /
U P S E L L I N G
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VoC INSIGHTS RE: CROSS SELLING
AND UPSELLING
“Don’t expect me to know your entire product line. Proactively reach out and offer additional products or services based on understanding what we do.”
C R O S S S E L L I N G
“Knowledgeable and personalized add-on offers are valued. These
are a customer service to us and not viewed as just trying to ‘sell
stuff.’”
U P S E L L I N G
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VoC FINDING #3; 7 L IFECYCLE POINTS FOR
ENGAGEMENT
7P E R S O N A L I Z E D
R E P E A T
S A L E S / R E N E W A L S
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VoC INSIGHTS RE: REPEAT SALES
& RENEWALS
“Don’t be ‘buy and die’. Be a visible and caring brand and then…why would we go with anyone else when it’s time to
repurchase?”
R E P E A T S A L E S
“Companies don’t get it. If they’ve taken care us from the
initial sale and been there throughout the relationship, then in our book, they have
earned the (contract) renewal.”
R E N E W A L S
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#4.RECIPROCITY OF VALUE ; DEEP
PREFERENCE DATA TO DRIVE ENGAGEMENT:
+ +C O N S U M E R
R E C I P R O C I T Y
To ensure marketers deliver quality CX and personalization, people will provide deep PtoP preference data.
Profound opportunity to move from implicit to explicitpersonalization.
B U S I N E S SR E C I P R O C I T Y
Marketers must reciprocate with “smart” personalizationbased on customer’s explicit,opt-in, "human” preferences.
Personalization must be based on more than transactional, overlay and inferential data.
“ H U M A N D A T A ”
PtoP opt-in self- profiled information;
• Self-defined personality type, attitudes, life stages
• Needs, expectations
• Definition of their Customer Journey
• Message & media preferences & aversions.
Do what you promised: Deliver on your fundamental brand promise.Treat me fairly: Fair pricing and customer service policies.
Treat Me Fairly
Do What You Promised
Per VoC research, 4 levels of Trust are required to earn the right to ask for PtoP “Human Data”;
TRUST IS A PRE-REQUISITE
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Protect my information: Explain the reasons for the opt-in information requests and assure me of the privacy and safety of my data.Improve my experiences: Use my stated preferences and aversions, to significantly improve my experiences.
Improve
My Experiences
Protect My Information
Treat Me Fairly
Do What You Promised
Per VoC research, 4 levels of Trust are required to earn the right to ask for PtoP “Human Data”;
TRUST IS A PRE-REQUISITE
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1. Trust is the foundation; opens the customer to Reciprocity as a fair exchange of value.
2. The improved Customer Experience strengthens trust.
3. Reciprocity motivates sharing of deeper information.
4. The unique preference data enables improved personalization of offers, communications and experiences.
5. This reinforces trust in the marketer and their commitment to engage in true reciprocity
6. Which drives progressive customer self-profiling that provides the marketer with uniquely deep and accurate Human Data.
Trust is the Foundation
ReciprocityImproved
Personaliz-ation
Reinforces Trust
Drives Progressive
Self Profiling
1
2
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5
6 Improved
Experience
Strengthens
Trust
THE 6 -STEP CIRCLE OF VALUE
The Challenge: Traditional personalization based on transactions, personas and implicit data did not drive expected levels of response and engagement from Millennials.
Voice of Customer Findings: Millennials want human needs basedpersonalization which focuses on their individual, explicit needs.
FINANCIAL SERVICES
CASE STUDY:
Rethinking RelationshipsWith Customers
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“You can market laptops and cellphones and Toyota Camrys, but this is my life you’re talking about!
I’m not looking to be marketed to. I’m looking for help in making my specific life
decisions.”
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Not me
Too youngHealthy
No beneficiary
I’ll Gamble
Won’t pay for what I don’t need
Should but...
Overwhelmed with choices
Inertia is getting best of me
Planner
Pays attention
to finances Well informedDoes research
Taker
Has work insurance, 401K,
pays little attention to
policies
SELF-DEFINED HUMAN DATA; DRIVING NEW
VALUE PROPOSITIONS
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5 X I N C R E A S E I N R E S P O N S E F R O M H U M A N
D ATA - D R I V E N P E R S O N A L I Z AT I O N
Year 1 Year 2 Year 3Se
gme
nts
Response rate 2% 4% 10%+
One segment,
generalized
messaging for all
Personalized
imagery by age,
gender, channel, language
Human data-
driven content,
offers, imagery,
media mix, frequency
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HUMAN DATA-DRIVEN OPT- IN EMAIL PILOT
Addressed Millennials’ issues identified in VoC.
Provided episode updates based on Opt-in preferences vs. Control group.
Created online “edutainment” talk
show. Ongoing episodes.
Results: Opt-in vs. Control
94%Higher open
rates
1,062%Higher video
views
ZeroUnsubscribes
100%Deliverability
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Creating Content to Engage
Reluctant Millennials
• Today’s Presentation
• Ebook; 8 Essentials for Effective Online Communities
• Ebook; 5 Ways to Use Human Data to Drive Deep Engagement
• Ebook; 5 Strategies for Transforming Your Customer Experience
• Case Studies
• Blog: Insights On Marketing Best Practices
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ADDITIONAL INFORMATION FOR YOU
1. Traditional personas and cohorts don’t work. Time to innovate and truly personalize.
2. Human data is the key that makes CX come to life – truly personal plus big data is the optimal combination.
3. You increase LTV by engaging customers to provide their deep preferences and aversions.
4. Especially with GDPR, obtaining and honoring preferences is mandatory!
5. Customers’ needs change over time; be one step ahead and know when to change CX and offers, to keep them engaged and loyal.
KEY TAKEAWAYS
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Thank you!
